Sec. 31. (a) In lieu of authorizing and selling bonds under section 30 of this chapter, the board of directors of a building authority may adopt a resolution authorizing the negotiation of a loan or loans for the purpose of obtaining the required money.
(b) The resolution authorizing the loan must set out:
(1) the total amount of the loan desired;
(2) the approximate dates on which money will be required, and the amounts of the money that will be required on those dates; and
(3) any terms, conditions, and restrictions concerning the proposed loan or the submission of proposals that the board considers advisable.
(c) Before the consideration of proposals for such a loan, a notice shall be published in accordance with IC 5-3-1. The notice must set out:
(1) the amount and purpose of the proposed loan;
(2) a brief summary of other provisions of the resolution; and
(3) the time and place where proposals will be considered.
(d) The board of directors may accept the proposal it considers most advantageous to the authority.
[Pre-Local Government Recodification Citation: 19-8-4-16 part.]
As added by Acts 1981, P.L.309, SEC.86. Amended by Acts 1981, P.L.45, SEC.50.
Structure Indiana Code
Article 9. Transportation and Public Works
Chapter 13. County Building Authority
36-9-13-1. Application of Chapter; "Eligible Entities" Defined
36-9-13-3. "Government Building" Defined
36-9-13-4. Building Authorities; Authorization; Purposes
36-9-13-5. Procedure for Establishment of Authority; Notice and Hearing
36-9-13-6. Trustees; Appointment; Terms of Office; Oaths
36-9-13-6.5. Withdrawal of Municipal County Seat From County Building Authority
36-9-13-7. Trustees; Appointment of Successors
36-9-13-8. Trustees; Failure to Qualify; Vacancies
36-9-13-9. Trustees; Meetings to Elect Officers and Appoint Board of Directors
36-9-13-10. Trustees; Adoption of Rules; Records; Additional Meetings
36-9-13-11. Board of Directors; Appointment; Terms of Office; Qualifications; Oaths
36-9-13-12. Directors; Appointment of Successors
36-9-13-13. Directors; Vacancies
36-9-13-14. Directors; Meetings to Elect Officers
36-9-13-15. Directors; Additional Meetings
36-9-13-16. Directors; Adoption of Rules; Quorum; Approval of Actions
36-9-13-17. Trustees and Directors; Actions Resulting in Vacation of Office
36-9-13-18. Removal of Trustees and Directors
36-9-13-19. Compensation of Trustees and Directors
36-9-13-20. Trustees and Directors; Conflicts of Interest
36-9-13-21. Preliminary Expenses
36-9-13-22. Powers and Duties of Board of Directors
36-9-13-22.5. Management Contract; Terms; Annual Budget; Tax Levy
36-9-13-24. Leases; Options to Renew
36-9-13-25. Leases; Options to Purchase; Authorization of Bond Issue to Pay Purchase Price
36-9-13-27. Leases; Notice and Hearing; Execution
36-9-13-32. Trust Indentures Securing Bonds or Loans
36-9-13-33. Proceeds; Application; Liens
36-9-13-34. Tax Levy to Pay Lease Rentals
36-9-13-35. Review of Annual Budget
36-9-13-36. Property and Revenues; Tax Exemption
36-9-13-37. Bonds and Other Securities; Tax Exemption
36-9-13-38. Handling of Funds; Employees' Bonds